S&D Co (260970) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 was ₩52.6 billion, down from ₩88.3 billion in 2023 and ₩73.3 billion in 2022 for the same period.

• Operating income for H1 2024 was ₩8.7 billion, compared to ₩12.9 billion in 2023 and ₩10.9 billion in 2022 for the same period.

• Net income for H1 2024 was ₩7.1 billion, down from ₩11.9 billion in 2023 and ₩9.8 billion in 2022 for the same period.

• The company completed a buyback and cancellation of 1,166,666 shares in April 2024, reducing total shares outstanding to 2,892,754.

Financial highlights

• Gross margin for H1 2024 was ₩12.7 billion, compared to ₩21.8 billion in H1 2023.

• Basic EPS for H1 2024 was ₩1,967, compared to ₩2,925 in H1 2023.

• Cash and cash equivalents at June 30, 2024, were ₩9.1 billion, down from ₩18.0 billion at year-end 2023.

• Total assets at June 30, 2024, were ₩75.8 billion, with equity of ₩58.3 billion.

Outlook and guidance

• The company added new business purposes in March 2024 for future diversification, but no concrete plans or investments have been made yet.

• No significant risks identified with the new business purposes as of the reporting date.